Newspaper review: Papers pan latest Greek bailout


There is widespread agreement that the latest bailout for Greece will not work.

"The most expensive sticking plaster in the world" is the view of Guardian economics editor Larry Elliott.

The Daily Telegraph uses the same sticking plaster analogy, and says that only by leaving the euro and through a devaluation can Greece save itself.

The Times has a similar view, while acknowledging that leaving the euro will not in itself be the solution to Greece's problems.

Halfway house

The Financial Times says Europe's leaders have proved they are unable to settle on a solution for Greece that will not have to be revisited.

The paper says the new bailout is a halfway house only.

"Only deluded optimists" expect the bailout to be the end of the matter, thinks the Daily Mirror.

The Independent believes what Greece really needs is economic growth, and calls on Europe to put together a Marshall-style investment plan.

Jump start

Several papers raise the prospect of tax cuts in next month's Budget.

The Daily Mail says that with borrowing falling faster than expected, George Osborne could have a "£10bn war chest" by the time he makes his Budget speech.

The Sun says ordinarily it would not suggest spending any spare cash when you are up to your neck in debt, but the economy needs a jump start.

The paper calls for a cut in fuel duty and a tax break to encourage firms to hire staff.

Kate effect

The Daily Telegraph says the Duchess of Cambridge has cemented her reputation for thrift by wearing a half-price dress during engagements on Tuesday.

The bird-print design by the High Street brand Orla Kiely was reduced from £325 to £162.50 in the sales.

The Daily Mirror says the "Kate effect" struck again with the dress selling out within minutes of her being seen in it.

The Daily Express notes that with each official outing a new label gets a taste of her "till-ringing appeal".

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